Citigroup DELINQUENCIES and 3 Spotlight Stocks Pre-Weekend
Bank of America Corp (NYSE:BAC): The top bidders for 3 separate CDOs of RMBS from the Fed’s Maiden Lane III portfolio are Credit Suisse (NYSE:CS), Bank of America, and Citigroup (NYSE:C). This 6th sale of securities leaves only $15B (fair value) of the original $47B portfolio.
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Nokia Corporation (NYSE:NOK): As a result of lingering competitive pressures and slowed traction with the Windows Phone, Nokia was downgraded by Credit Suisse. The price target dropped from $4.50 to $2.
Citigroup Inc. (NYSE:C) delinquencies for May were 2.55%, compared to 2.71% last month. The company’s card write-offs for may were 5.20%, decreasing from 5.93% last month.
General Electric Company (NYSE:GE): GE Capital, Corporate Finance has taken the role of administrative agent for Taghleef Industries’ $143M cash flow credit facility. The financing was used for the acquisition of Applied Extrusion Technologies, which manufactures specialized packaging films. GE Capital Markets also took the roles of sole lead arranger and bookrunner.
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